Philippines – President Rodrigo Duterte has finally come to a decision that give all members of Social Security System (SSS) pensioner a monthly increase in their monthly pension amounting to Php 1,000.
The long awaited SSS Pension Hike took several controversies and debates but after a long thorough study of the president economic adviser, the decision was finally sealed.
The increase in SSS pension hike will begin next month or February of this year, due to SSS government agency request of 1 month extension of re-computations. So, the good news is starting February 2017 all SSS pensioner will finally receive their Php 1,000 increases in their monthly pensions.
On the other hand, the replacement for SSS pension hike for SSS pensioner is to increase the monthly contribution of all SSS active members that automatically deducted from their salaries and being remitted by their employers and including the proportion of employer premiums.
It is remembered that the original pension hike filed in the House of Representative was Php 2,000 during the last administration but eventually denied by the former President Noynoy Aquino due to the concerns that Social Security System might lead to bankruptcy in the near future?
Meanwhile, then Mayor Duterte of Davao City, strongly pushed the SSS pension increase if elected President of the country during the 2016 Philippines National Election Campaign but when elected president it did not immediately push through the said SSS Pension Hike bill and instead the president lowered the said SSS pension hike into Php 1,000 after consulting his economic advisers.
